Will new teams enter Formula one?
The last team to join Formula One was Haas in 2016. Before that, 3 teams had joined in 2010: Lotus, Marussia and HRT, all of whom had various different owners before subsequently going out of business Last year, some car manufacturers had expressed their desire to enter F1 in 2021. The ongoing pandemic has put a stop to any teams wanting to enter the sport until 2022, when the new regulations will come into place.
Written by- Janvi Unni, Edited by-Tanishka Vashee
In February 2021, for the first time in years an FIA meeting was attended by Porsche. Audi and Porsche are expected to join Formula One as partners, and submit their business plans to the group of directors at the end of May 2021. It is yet to be confirmed if Porsche wants to enter as a works team, having their own engine, or if they want to enter only as an engine supplier. If all goes well, they are expected to enter Formula One in 2025.
If they do join, it means 11 teams on the grid, and maybe even more, with Campos Racing and Panthera Asia also looking to join the sport in 2022.In fact, Campos had the intention of joining in 2021, but was asked to wait until the new regulations were enforced in 2022. So what does having more teams mean for the sport?
To start with, it’s already hard for new teams to enter Formula One, with the present entry fee being $200 million.According to Formula One’s Concorde Agreement, each team receives a share of the income generated by Formula One. Formula One’s CEO has stated that their current priority is protecting the current 10 teams taking part without causing problems related to income distribution. If new teams do join the sport in 2022, then the share of revenue given to each team will be significantly smaller. This could hurt smaller teams like Williams and Haas.
Unlike former CEO Chase Carey, Formula One Motorsport Director Ross Brawn wasn’t as welcoming of new teams into the sport. He claims that a period of stability was required after effect of the pandemic.The FIA wanted to make sure that the revised rules and regulations for 2022 had settled in well with all the teams before they added any more. He signed off adding that it would definitely be refreshing to see new teams in Formula One.